5 Dividend Stocks to Buy According to Kenneth Tropin’s Graham Capital Management

2. The Macerich Company (NYSE:MAC)

Dividend Yield as of June 22: 6.76%
Graham Capital Management’s Stake Value: $4,073,000

The Macerich Company (NYSE:MAC) is an American real estate investment trust that invests in shopping centers and other retail buildings. In May, the company announced to add 17 more Cotton On Group to regional town centers, expanding its footprint across the country.

In Q1 2022, The Macerich Company (NYSE:MAC) reported solid earnings, posting an FFO of $0.50, which beat estimates by $0.04. The company’s revenue for the quarter stood at $216.1 million, up 13.5% year-over-year. For FY22, it expects its FFO to fall between $1.85-$2.05, versus the consensus of $1.95.

During Q1 2022, Graham Capital piled up another $3.8 million in The Macerich Company (NYSE:MAC), increasing its position by 1,746%. The hedge fund owned a total stake worth $4.07 million in the company, which represented 0.14% of Kenneth Tropin’s portfolio.

The Macerich Company (NYSE:MAC) slashed its dividend twice in 2020 due to the pandemic and currently pays a quarterly dividend of $0.15 per share. The stock’s dividend yield stood at 6.76% on June 22. In June, Compass Point lowered its price target on The Macerich Company (NYSE:MAC), with a Buy rating on the shares. The firm lowered targets on the mall sector by an average of 18% due to the recent market downswing.

As of the quarter ended in March 2022, 20 hedge funds in Insider Monkey’s database owned a $160.2 million worth of combined stake in The Macerich Company (NYSE:MAC). In comparison, 21 hedge funds held positions in the company in the previous quarter, with stakes valued at $128.8 million.

Smead Capital Management mentioned The Macerich Company (NYSE:MAC) in its Q3 2021 investor letter. Here is what the firm has to say:

“Our poor performers for the quarter were quite eclectic. Macerich (MAC) dropped 7.55% for the quarter and most of that loss was on September 30, 2021… Ironically, some of our best nine-month performers were Q3 losers. Macerich (MAC) gained 61.81% through the end of the quarter and took third place.”